Mettler-Toledo International, Inc. (MTD) vs Waters Corporation (WAT)

Mettler-Toledo International, Inc. and Waters Corporation are both Diagnostics & Research companies. Waters Corporation is the larger, with a market value of $44.5B against $33.6B — 1.3× the size. Mettler-Toledo International, Inc. trades at the lower P/E: 37.6× against 194×. Waters Corporation grew revenue faster over the last twelve months: 80.7% against 6.91%. Mettler-Toledo International, Inc. has the higher net margin (21.9% vs 1.76%) and the higher return on invested capital (35.4% vs 1.13%). Across the 22 metrics below, Mettler-Toledo International, Inc. leads on 15 and Waters Corporation on 7.

Valuation

Metric MTD WAT Diagnostics & Research median
P/E 37.65 193.97 34.52
P/S 8.16 7.96 4.24
P/B 2,631.36 2.94 3.42
Price to free cash flow 39.06 172.93 33.51
EV/EBITDA 27.43 51.94 23.44
EV/Sales 8.66 8.73 5.18
Earnings yield 2.66% 0.52% (1.50%)
Free cash flow yield 2.56% 0.58% 0.00%

Profitability

Metric MTD WAT Diagnostics & Research median
Gross margin 60.26% 49.53% 48.32%
Operating margin 28.41% 4.73% (5.68%)
Net margin 21.91% 1.76% (4.10%)
Free cash flow margin 20.90% 4.60% 0.00%
Return on equity (736.36%) 0.00% 0.00%
Return on assets 25.61% 0.68% (6.05%)
Return on invested capital 35.40% 1.13% 0.00%

Growth

Metric MTD WAT Diagnostics & Research median
Revenue growth (TTM) 6.91% 80.69% 8.99%
EPS growth (last fiscal year) 3.88% 0.47% 20.36%
Revenue growth, 5-year CAGR 5.47% 6.00% 7.30%
Net income growth, 5-year CAGR 7.60% 4.26% 0.00%

Health

Metric MTD WAT Diagnostics & Research median
Debt to equity 164.70 0.00 0.01
Current ratio 1.12 0.66 2.27
Net debt to EBITDA 1.68 0.36 0.68

Dividend

Metric MTD WAT Diagnostics & Research median
Dividend yield — — 0.67%
Payout ratio — — 0.20

Size

Metric MTD WAT Diagnostics & Research median
Market cap 33.64b 44.51b 2.22b

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